Digital transformation has dominated strategic discussions across industries over the last few years. Organizations are now under pressure to adapt, viewing such a shift as an effective way to increase operational efficiency and reimagine customer experience. In Canada, the banking sector continues to lead the charge in digital innovation — outpacing other industries in adopting advanced technologies.

The demand for cloud technology is skyrocketing across industries as businesses transition their operations to digital. Research says that 85% of organizations are preparing for a “cloud-first” approach by 2025 to drive digital transformation. In healthcare alone, experts estimate that the total global spending for cloud technology will exceed 89 billion USD. This solidifies the significant impact of cloud-based services in boosting overall efficiency.

Meetings provide a platform for organizations to discuss everything that needs to be addressed, reviewed, and decided, from daily operations to long-term strategies. They help boards and teams stay updated on where everyone is with their current projects and ensure that each member stays aligned with the organizational goals. Needless to say, regular huddles are a way to keep the team engaged and involved. But what happens after the meeting?

Board meetings operate under well-defined protocols to ensure directors are efficient with their time and resources. This structured approach requires directors to prepare, making them well-equipped to contribute meaningfully. However, even with this order, board discussions can sometimes veer off course. One of the most challenging meeting segments for board chairs is the AOB.

A high-performing board is recognized as a critical determinant of organizational success. The tricky part, however, is the dynamics of board management which is essential for effective performance. It has evolved in response to various factors: increasing complexity in the global markets, heightened regulatory scrutiny, and growing demand for corporate transparency.

Governance models have been used by both small organizations and large corporations for executing governance responsibilities. They do so by clarifying reporting lines, providing mechanisms for decision-making, identifying risks, and defining roles and responsibilities, and limits of authority. With the right model, a company and its board can effectively boost their capabilities to implement governance and conduct a more active oversight.

Everyone wants to achieve something either in the next 10 years or in the next 6 months. You may be looking to check off something in a matter of weeks or strive to accomplish a decade-long plan. Whether personal or professional, short-term and long-term goals provide direction and purpose to our actions. Similarly, corporations and nonprofits rely on these goals to steer their efforts and define their success.

We’ve all heard of nepotism, aka the act of favoring family members in the workplace. But what about cronyism? It’s the ‘insidious’ cousin that thrives within the organization itself. Cryonism is not about blood ties, but about the web of personal connections that trumps qualifications and merits. In this article, we will peel back the layers of cronyism, from its damaging effects to ways to prevent it, and some cronyism examples for better understanding.

Every business understands the importance of staying on track in any endeavor — may it be creating a new IT system or launching a new product. To ensure that such projects deliver the intended results, having a steering committee is a good solution. Usually comprised of key stakeholders and experts, this committee acts as a guiding hand in project management and risk mitigation.

Businesses thrive and succeed because they know how to utilize collaboration. There are situations where a project or a task requires a specialized skill or expertise beyond the in-house team. This is where independent contractors come in very helpful. To ensure a smooth and fruitful working relationship with this third-party provider, a well-drafted contractor agreement is crucial. This guide dives into the essential aspects of contractor agreements, exploring their benefits and components.